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The term negative is rather confusing. If the account did not have a balance it would not have been included in the bankruptcy. Any account included in a bankruptcy will remain on the report for the requred length of time, open accounts would be seven years, they will be marked included in bankruptcy. The BK accounts listing will remain for 10.

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Q: If you have an account that is showing negative and it was included in a bankruptcy can you have the negative account removed or does it stay there and count as two negatives?
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Can creditors classify an account as a charge-off because it was included in a chapter 7 bankruptcy?

Yes and no. If an account was already charged-off before the bankruptcy, it can be reported as a charge-off. By law, the creditors must charge-off accounts included in bankruptcy, BUT they can not REPORT that charge-off if it happens AFTER the bankuptcy. Negative reporting on discharged debts is a violation of the permanent injunction of the discharge.


If an account was included in bankruptcy can the creditor still show it as a charge off?

I think that your credit report would be updated to show that the account was "included in a Ch 7 bankruptcy." You should be able to get a free credit report from www.annualcreditreport.com if you want to check your credit report to be sure the account's status is listed correctly.


Will your credit report only show a discharged bankruptcy or will it also show all the accounts included in the bankruptcy?

Your credit report will show both the accounts (which were listed first) and the legal entry of the bankruptcy in the public records portion of your credit report. Once a bankruptcy is discharged, credit grantors should update the account listing (called a trade line) and make sure that no derogatory information is showing (like past due balance or collection account notations) EXCEPT for the "included in bankruptcy" statement. This is what SHOULD happen. It's up to you to follow up and make sure that your credit report looks like it is supposed to after a bankruptcy.


If an account was included in a Ch 7 bankruptcy can the account's history of late payments still be listed on the credit report?

Yes, your payment history will still be a part of your credit report as well as the Chapter 7.


How do you remove charge offs from a credit report?

Charge-offs remain on your credit report for 7 years. If the account has been included in a bankruptcy, it should be marked as such...."included in bankruptcy". However, according to the Fair Credit Reporting Act, if you dispute the charge-off with the credit bureau and the creditor can not verify the account, it must be removed from your credit report immediately. Only the original creditor or the credit bureaus can remove a charge off, either through negotiations or through the dispute process.

Related questions

Can creditors classify an account as a charge-off because it was included in a chapter 7 bankruptcy?

Yes and no. If an account was already charged-off before the bankruptcy, it can be reported as a charge-off. By law, the creditors must charge-off accounts included in bankruptcy, BUT they can not REPORT that charge-off if it happens AFTER the bankuptcy. Negative reporting on discharged debts is a violation of the permanent injunction of the discharge.


Should an account discharged in bankruptcy have a status of closed and if it still says open is this hurting you?

In this instance the account would generally be noted as "included in bankruptcy. The impact the open account would have is insignificant, compared to the bankruptcy.


How do you stop a creditor from updating the account that is included in bankruptcy?

Make sure the creditor was notified that their debt was included in and discharged through your bankruptcy. Once notified, they cannot legally update a trade line.


Does filing for bankruptcy re-age delinquent accounts included in?

"Included in" bankruptcy? No. It stops any interest or penalties on unsecured debts. If the bankruptcy fails, the accrued interest or penalties will be added to the account, and the statute of limitations starts ticking from where it was on the date of filing.


If an account was included in bankruptcy can the creditor still show it as a charge off?

I think that your credit report would be updated to show that the account was "included in a Ch 7 bankruptcy." You should be able to get a free credit report from www.annualcreditreport.com if you want to check your credit report to be sure the account's status is listed correctly.


Can a creditor add an account to your bankruptcy when the account was opened after filing and you didn't include it yourself?

No, debts acquired after the filing cannot be included in the BK petition.


Joint account with your brother what happens if he files chapter 7 bankruptcy?

Joint accounts are included in an individual bankruptcy claim. Just how much of the value of the joint account is considered as your asset depends on history of the account, the type of account, and statutory details for certain types of assets / debts.


What can you do if a credit card was not listed in your bankruptcy but was on your credit report and credit card co did a review for credit line increase and saw the bankruptcy and notated the account?

That depends on HOW they notated the account. If they marked it as 'included in bankruptcy', even if you did not list them on your creditor matrix, you probably will not succeed in disputing it, but you can try.


If you received an inheritance in 2003 and put it in a grandchild's account will that be included in a 2005 bankruptcy?

No. The general rule is only assets transferred 90 days prior are subject to bankruptcy inclusion.


Can checking account be included in bankruptcy?

I am currently in Chapter 13 and I can use my checking account the same as I did before I filed.Just make sure you don't use your checking account to pay any debts that you didn't list in your bankruptcy.


Can a debt collector still collect your debt if you file chapter 13?

No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.


How do you get a credit card debt that was included in a bankruptcy removed from your credit report?

Write a letter of dispute to the credit repository. Include copies of your drivers license, social security card, utility bill, and your bankruptcy papers showing the referenced account. Ask that the bureau remove all notations other than "included (or discharged) in bankruptcy". Request a complete credit report after the account has been corrected. Repeat, as needed.